Dr. Sulaiman Al Habib Medical Group (HMG) issued on Wednesday a prospectus for its initial public offering (IPO) on the Saudi Stock Exchange (Tadawul).
The medical group will float 52.50 million shares, or 15% of its capital in the planned IPO.
In September, the Capital Market Authority (CMA) approved Dr. Sulaiman Al Habib Medical Group’s request to sell 52.5 million shares, Argaam reported.
Read: Sulaiman Al Habib Medical Group plans IPO in February
The institutional offering will begin on Feb. 10 and end on Feb. 19, HMG said, adding that the offering price will be announced on Feb. 20.
The retail offering will run from Feb. 26 through March 3.
The IPO is split into two tranches, one each for institutional and retail investors.
The institutional tranche comprises all categories of investors entitled to participate in the book-building process. A total of 52.5 million shares, or 100% of the offering size will be allocated to institutional investors, subject to a scaleback to 90% (47.25 million shares).
The final allocation will follow the completion of the retail offering.
The retail tranche comprises Saudi natural persons, including any Saudi female divorcee or widow with minor children from a non-Saudi father, and any GCC national. Up to 10% of the offering size (5.25 million shares) will be allocated to this tranche.
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Major Shareholders |
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Shareholder |
Number of shares before IPO (mln shares) |
Stake % |
Number of shares after IPO (mln shares) |
Stake % |
|
Sulaiman bin Abdulaziz S. Al Habib |
157.49 |
45.00 % |
140.11 |
40.03 % |
|
Thabat Ltd.* |
12.85 |
3.67 % |
12.85 |
3.67 % |
|
Mohammed bin Abdulaziz Al Habib & Sons Holding |
152.90 |
43.69% |
118.14 |
33.75 % |
|
Jawarat Al Bahr ** |
17.43 |
4.98 % |
17.43 |
4.98 % |
|
Others |
9.33 |
2.67% |
8.98 |
2.57% |
|
Public |
-- |
-- |
52.50 |
15.00 % |
|
Total |
350 |
100 % |
350 |
100 % |
* Fully owned by Sulaiman Abdulaziz al Habib.
** Fully owned by Mohammed bin Abdulaziz Al Habib & Sons Holding
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Company’s Profile |
|
|
Company |
Sulaiman Al Habib Medical Group Co. (HMG) |
|
Market |
TASI |
|
Main activities |
Managing and operating hospitals, specialized clinics, medical centers and one-day surgery centers in addition to some supporting activities |
|
Status |
Active |
|
Capital |
SAR 3.5 bln |
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IPO Summary |
|
|
Issue percentage (%) |
15% |
|
Number of shares offered |
52.50 mln shares |
|
IPO Price |
Determined through book building process |
|
Qualified subscribers |
-Retail investors are allocated up to 10% of the offering or 5.25 mln shares -Pparticipating parties are allocated 100% of the offering size and it can be reduced to 90% |
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IPO minimum size for retail investors |
10 shares |
|
IPO minimum size for institutional investors |
100,000 shares |
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IPO maximum limit for retail investors |
500,000 shares |
|
IPO maximum limit for institutional investors |
17.5 mln shares |
|
IPO period |
7 days (date yet to be determined) |
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Additional Information |
|
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Financial advisor |
Riyad Capital |
|
Lead manager, underwriter |
Jadwa Investment- Riyad Capital |
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Institutional bookrunners |
Jadwa Investment- Riyad Capital- EFG Hermes Saudi Arabia |
|
Receiving banks |
Riyad, NCB, Al Rajhi , SABB and Samba |
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